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Affordable Housing, A Panacea For Curbing Corruption, Inefficiency, Says FG Housing Loan Boss

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BEVERLY HILLS, CA, May 13, (THEWILL) â€' Pursuant to the Federal Government's resolve to collaborate with other stakeholders in the housing sector to deliver 10,000 housing units this year through mortgage refinancing, the Executive Secretary, Federal Government Staff Housing Loans Board, Dr. (Mrs.) Hannatu Adamu Fika has expressed her belief that providing accommodations for workers is a platform to address the twin problem of perceived corrupt practices and inefficiencies in handling government businesses. She said without public servants that are motivated to drive the policies and programmes of government, the Private Sector organizations will also be incapacitated.

She expressed the optimism when she visited the Managing Director, NMRC, Mr. Sonnie Ayere at his Abuja Office on Tuesday.

Expressing her commitment to deliver the 1,000 housing units out of the target for 2014 for the Public Servants if given the opportunity, Dr. (Mrs.) Fika said with the template of the Board which is risk free, the repayment option is made easy for the off takers and the mortgagers.

The new mortgage refinance will serve as a vehicle to actualise the dream of transformation agenda as it effects the housing sector especially for public servants, she stressed.

The Mortgage Refinance which was launched in January this year by President Goodluck Jonathan was intended to boost mortgage financing in the country for housing delivery and home ownership schemes and as well as reducing all impediments to a sustainable and dynamic housing market.

The housing sector of which Federal Government Staff Housing Loans Scheme is a critical stakeholder is a key component of this administration's transformation agenda hence the need for the public servants to be considered as key beneficiaries in the efforts to address the housing needs of Nigerians.

Earlier, Mr. Ayere appreciated the courtesy call by the Team from the Federal Government Staff Housing Loans Board as timely especially this time when the CME and Minister of the Finance who is the prime mover of NMRC is passionate and determined to ensure the effective take off of the project and its sustainability.

He expressed reservation on the current 3% interest rate charged by the Board as not market driven. However, he was of the opinion that with the high demand for housing loans by public servants from the Board it will be better to look at an option that is market driven, achievable and sustainable.

Mr. Ayere also advocated a tripod agreement whereby the Board will partner with the FMBN and tap into the savings of public servants through the National Housing Funds and also benefit in the NMR imperative and come to a weighted single digit interest rate which will make sufficient funds available for the public servants.

It is expected that when the underwritten criteria is concluded the interest of the public servants will be fully guaranteed in line with the welfare policies of the present administration.